The Wall Street Journal runs a piece by the chairman and CEO of General Motors, Ed Whitacre, under the misleading headline, "The GM Bailout: Paid Back in Full." That's nonsense. The article reports on GM paying back $5.8 billion. But the taxpayers put in at least $30 billion, more if you include GMAC and its suppliers, which is why Uncle Sam still owns 61% of GM, even after being "paid back in full." The whole idea of a company 61% owned by the government paying the government back is problematic, anyway -- it's really more like the government transferring money from one pocket to another. This is just GM spin.